J J, Author at Mangalorean.com

KuCoin Says its Chinese Clients Should Move Funds Until the End of the Year KuCoin, one of the leading crypto exchanges globally, which is based in Seychelles has recently issued a statement regarding its Chinese clients. The statement calls on the clients from mainland China to transfer their digital assets to other platforms prior to the final deadline, which is in two months. The company representatives noted that the aim of the warning is to protect the rights and interests of their clients and recommend investors transfer their assets before midnight UTC time on December 31. The exchange also noted that since its establishment, it has worked very hard to make sure to comply with the local regulations and trading laws of various different jurisdictions. China has recently changed its crypto regulations, which has forced the majority of the crypto exchanges out of the country. The company said that immediately after the statement of the Chinese government, they have conducted a special technical self-inspection to make sure that all of their business was compiled with the new crypto trading regulations and requirements adopted by the Chinese authorities. China’s Crypto Crackdown China has been fighting against the crypto trading market for some time now. The country has adopted numerous laws and regulations to get in the way of the development of the crypto trading market. However, over the years, companies would still manage to find ways to still stay in the market. On the other hand, the latest restrictions adopted by the Chinese authorities seem to be hard to avoid. In later September, Chinese authorities adopted a whole new crypto regulation, which has banned not only crypto mining and trading but is aimed at curbing all the crypto activity in the country altogether. These were some of the toughest measures against crypto in many years. After a few days of China's announcement, it was reported by the local media of the country that there had still been around 18 platforms that were providing locals with crypto services and that all of them had already started exiting the market or were inaccessible locally. The crypto crackdown in China is not new. It has been ongoing for several years in the country. Some of the first steps against the market were taken in China back in 2017 when it announced it was blocking access to crypto trading activities. However, people were still managing to find easy to trade cryptocurrencies over the past few years. In fact, China has been one of the largest countries around the world in terms of crypto mining and as well as trading. 2021 has changed the picture dramatically. Amid more restrictions being adopted in the country, crypto exchanges had no other choice but to leave the market. Prior to the restrictions announced in September, the country issued numerous laws regarding the crypto industry. In June, China banned crypto mining altogether. This had a huge impact on the crypto industry, as China has been the largest crypto mining hub for years. The authorities of the country said back then that one of the main reasons for the mining crackdown was to limit the environmental consequences of crypto mining. KuCoin & Its Decision Amid the ongoing events in China, numerous crypto exchanges had to leave the local market. This is not an easy thing to do, especially when time is so limited. Some of the best crypto exchanges around the world, including KuCoin, had numerous clients in the country. Now, these accounts should be deactivated and all of the assets should be taken care of. KuCoin is not the only company that has to deal with this situation. As we read in the statement issued by KuCoin, they tried to find a way to leave the market without causing too much damage to their clients. The deadline of 31 December seems reasonable for the clients of the company to think of something and take care of their crypto assets. KuCoin - A Leading Crypto Exchange KuCoin is one of the most popular crypto exchanges globally. Over the years, it has managed to become popular in numerous countries around the world. Recently, the company announced that it has become the first-ever major crypto platform to launch a social trading platform. The new KuCoin S Social Trading Platform is aimed at enhancing the user experience and expanding the possibilities of market collaboration. The new platform will be combining trading, educational, and news feed elements, offering traders numerous opportunities and a high level of comfort. Among many things included in the new KuCoin S Platform are direct messaging, forums, message boards, and many others. Social trading is already used in numerous other markets, for example, Forex trading. These types of platforms are used by traders to connect with one another, have discussions about strategies, assets, portfolios, and so on. This lets traders connect with one another and share personal experiences. KuCoin also announced recently that it has launched the KuCoin Fiat Account. The feature would grant users across the world the opportunity to make USD deposits to KuCoin accounts directly using debit and credit cards. Thanks to this, clients of the company would be able to buy and sell crypto assets like Bitcoin, Ethereum, and others available on the KuCoin platform in an easier way. Such frequent service updates make KuCoin a true leader in the crypto trading industry. There are numerous traders trusting the services of the company every single day and it continues its growth around the world.

J J

KuCoin Says its Chinese Clients Should Move Funds Until the End of the Year

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